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Liberty Holdings

DB:LKG
Snowflake Description

6 star dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LKG
DB
ZAR30B
Market Cap
  1. Home
  2. DE
  3. Insurance
Company description

Liberty Holdings Limited, a financial services company, engages in insurance business in Africa. The last earnings update was 146 days ago. More info.


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LKG Share Price and Events
7 Day Returns
7.5%
DB:LKG
-0.6%
DE Insurance
-0.9%
DE Market
1 Year Returns
-0.7%
DB:LKG
19.7%
DE Insurance
-7.4%
DE Market
LKG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Liberty Holdings (LKG) 7.5% 13.4% 16.7% -0.7% -9.6% -18.5%
DE Insurance -0.6% 1.1% 1.4% 19.7% 61.5% 60.8%
DE Market -0.9% -0.4% -3.7% -7.4% 8.1% 12%
1 Year Return vs Industry and Market
  • LKG underperformed the Insurance industry which returned 19.7% over the past year.
  • LKG outperformed the Market in Germany which returned -7.4% over the past year.
Price Volatility
LKG
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Liberty Holdings's competitors could be found in our database.

LKG Value

 Is Liberty Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Liberty Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Liberty Holdings.

DB:LKG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= ZAR90.78 * 11.5%
ZAR10.45
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. ZAR90.78
Discount Rate (Cost of Equity) See below 5.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:LKG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.68
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.685 (1 + (1- 28%) (38.79%))
0.917
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.917 * 5.96%)
5.69%

Discounted Cash Flow Calculation for DB:LKG using Excess Returns Model Model

The calculations below outline how an intrinsic value for Liberty Holdings is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:LKG Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (11.5% – 5.69%) * ZAR90.78)
ZAR5.28
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= ZAR5.28 / (5.69% - 0.23%)
ZAR96.68
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= ZAR90.78 + ZAR96.68
ZAR187.45
DB:LKG Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:LKG represents 0.06478x of JSE:LBH
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.06478x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (ZAR) x Listing Adjustment Factor
= ZAR 187.45 x 0.06478
€12.14
Value per share (EUR) From above. €12.14
Current discount Discount to share price of €7.31
= -1 x (€7.31 - €12.14) / €12.14
39.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Liberty Holdings is available for.
Intrinsic value
40%
Share price is €7.31 vs Future cash flow value of €12.14
Current Discount Checks
For Liberty Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Liberty Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Liberty Holdings's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Liberty Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Liberty Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:LKG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in ZAR ZAR8.89
JSE:LBH Share Price ** JSE (2019-07-22) in ZAR ZAR112.83
Germany Insurance Industry PE Ratio Median Figure of 6 Publicly-Listed Insurance Companies 13.42x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.71x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Liberty Holdings.

DB:LKG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= JSE:LBH Share Price ÷ EPS (both in ZAR)

= 112.83 ÷ 8.89

12.69x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Liberty Holdings is good value based on earnings compared to the DE Insurance industry average.
  • Liberty Holdings is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Liberty Holdings's expected growth come at a high price?
Raw Data
DB:LKG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.69x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
8.7%per year
Germany Insurance Industry PEG Ratio Median Figure of 5 Publicly-Listed Insurance Companies 3.13x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.43x

*Line of best fit is calculated by linear regression .

DB:LKG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.69x ÷ 8.7%

1.45x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Liberty Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Liberty Holdings's assets?
Raw Data
DB:LKG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in ZAR ZAR85.70
JSE:LBH Share Price * JSE (2019-07-22) in ZAR ZAR112.83
Germany Insurance Industry PB Ratio Median Figure of 6 Publicly-Listed Insurance Companies 1.08x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.72x
DB:LKG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= JSE:LBH Share Price ÷ Book Value per Share (both in ZAR)

= 112.83 ÷ 85.70

1.32x

* Primary Listing of Liberty Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Liberty Holdings is overvalued based on assets compared to the DE Insurance industry average.
X
Value checks
We assess Liberty Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. Liberty Holdings has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

LKG Future Performance

 How is Liberty Holdings expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Liberty Holdings expected to grow at an attractive rate?
  • Liberty Holdings's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Liberty Holdings's earnings growth is positive but not above the Germany market average.
  • Liberty Holdings's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:LKG Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:LKG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 8.7%
DB:LKG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -5.2%
Germany Insurance Industry Earnings Growth Rate Market Cap Weighted Average 4.5%
Germany Insurance Industry Revenue Growth Rate Market Cap Weighted Average 5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:LKG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in ZAR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:LKG Future Estimates Data
Date (Data in ZAR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 41,643 3,122 1
2020-12-31 40,826 2,958 1
2019-12-31 40,026 2,798 1
DB:LKG Past Financials Data
Date (Data in ZAR Millions) Revenue Cash Flow Net Income *
2018-12-31 49,370 2,817 2,396
2018-09-30 56,159 -2,054 2,747
2018-06-30 62,948 -3,632 3,097
2018-03-31 65,968 2,282 3,107
2017-12-31 68,987 4,904 3,116
2017-09-30 62,242 10,487 2,525
2017-06-30 55,496 16,070 1,934
2017-03-31 57,484 10,615 2,071
2016-12-31 59,472 5,160 2,207
2016-09-30 61,599 -3,128 3,027
2016-06-30 63,725 -11,416 3,846
2016-03-31 62,119 2,164 3,928

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Liberty Holdings's earnings are expected to grow by 8.7% yearly, however this is not considered high growth (20% yearly).
  • Liberty Holdings's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:LKG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Liberty Holdings Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:LKG Future Estimates Data
Date (Data in ZAR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 13.42 15.58 11.25 2.00
2020-12-31 12.71 14.76 10.66 2.00
2019-12-31 12.78 15.48 10.08 2.00
DB:LKG Past Financials Data
Date (Data in ZAR Millions) EPS *
2018-12-31 8.89
2018-09-30 10.18
2018-06-30 11.48
2018-03-31 11.50
2017-12-31 11.53
2017-09-30 9.32
2017-06-30 7.13
2017-03-31 7.62
2016-12-31 8.12
2016-09-30 11.15
2016-06-30 14.19
2016-03-31 14.56

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Liberty Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Liberty Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Liberty Holdings has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

LKG Past Performance

  How has Liberty Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Liberty Holdings's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Liberty Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Liberty Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Liberty Holdings's 1-year earnings growth is negative, it can't be compared to the DE Insurance industry average.
Earnings and Revenue History
Liberty Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Liberty Holdings Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:LKG Past Revenue, Cash Flow and Net Income Data
Date (Data in ZAR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 49,370.00 2,396.00 11,184.00
2018-09-30 56,159.00 2,746.50 11,266.00
2018-06-30 62,948.00 3,097.00 11,348.00
2018-03-31 65,967.50 3,106.50 11,346.50
2017-12-31 68,987.00 3,116.00 11,345.00
2017-09-30 62,241.50 2,525.00 11,143.50
2017-06-30 55,496.00 1,934.00 10,942.00
2017-03-31 57,484.00 2,070.50 10,837.50
2016-12-31 59,472.00 2,207.00 10,733.00
2016-09-30 61,598.50 3,026.50 10,657.50
2016-06-30 63,725.00 3,846.00 10,582.00
2016-03-31 62,119.00 3,927.50 10,365.50
2015-12-31 60,513.00 4,009.00 10,149.00
2015-09-30 62,700.50 4,023.50 9,861.00
2015-06-30 64,888.00 4,038.00 9,573.00
2015-03-31 66,767.50 3,976.50 9,474.50
2014-12-31 68,647.00 3,915.00 9,376.00
2014-09-30 73,110.00 4,003.50 9,606.50
2014-06-30 77,573.00 4,092.00 9,837.00
2014-03-31 72,439.50 3,999.00 9,458.00
2013-12-31 67,306.00 3,906.00 9,079.00
2013-09-30 64,155.50 3,841.50 8,424.00
2013-06-30 61,005.00 3,777.00 7,769.00
2013-03-31 62,051.50 3,737.00 7,671.00
2012-12-31 63,098.00 3,697.00 7,573.00
2012-09-30 57,689.00 3,414.00 7,256.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Liberty Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Liberty Holdings used its assets less efficiently than the DE Insurance industry average last year based on Return on Assets.
  • Liberty Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Liberty Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Liberty Holdings has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

LKG Health

 How is Liberty Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Liberty Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Liberty Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Liberty Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Liberty Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 3.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Liberty Holdings Company Filings, last reported 6 months ago.

DB:LKG Past Debt and Equity Data
Date (Data in ZAR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 31,393.00 11,747.00 39,972.00
2018-09-30 31,393.00 11,747.00 39,972.00
2018-06-30 31,184.00 16,648.00 32,808.00
2018-03-31 31,184.00 16,648.00 32,808.00
2017-12-31 30,391.00 14,678.00 34,940.00
2017-09-30 30,391.00 14,678.00 34,940.00
2017-06-30 29,393.00 18,564.00 35,672.00
2017-03-31 29,393.00 18,564.00 35,672.00
2016-12-31 29,006.00 16,349.00 39,086.00
2016-09-30 29,006.00 16,349.00 39,086.00
2016-06-30 26,347.00 18,075.00 22,488.00
2016-03-31 26,347.00 18,075.00 22,488.00
2015-12-31 25,993.00 20,073.00 50,420.00
2015-09-30 25,993.00 20,073.00 31,195.00
2015-06-30 24,654.00 18,786.00 20,890.00
2015-03-31 24,654.00 18,786.00 20,890.00
2014-12-31 23,634.00 8,766.00 21,762.00
2014-09-30 23,634.00 8,766.00 21,762.00
2014-06-30 22,116.00 3,167.00 19,830.00
2014-03-31 22,116.00 3,167.00 19,830.00
2013-12-31 21,356.00 3,167.00 16,257.00
2013-09-30 21,356.00 3,167.00 16,257.00
2013-06-30 19,164.00 2,131.00 15,376.00
2013-03-31 19,164.00 2,131.00 15,376.00
2012-12-31 18,511.00 2,177.00 17,328.00
2012-09-30 19,280.00 2,177.00 244,389.00
  • Liberty Holdings's level of debt (37.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (14.8% vs 37.4% today).
  • Debt is well covered by operating cash flow (24%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 66.3x coverage).
X
Financial health checks
We assess Liberty Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Liberty Holdings has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

LKG Dividends

 What is Liberty Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.12%
Current annual income from Liberty Holdings dividends. Estimated to be 6.74% next year.
If you bought €2,000 of Liberty Holdings shares you are expected to receive €122 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Liberty Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Liberty Holdings's dividend is above the markets top 25% of dividend payers in Germany (3.9%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:LKG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Germany Insurance Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:LKG Future Dividends Estimate Data
Date (Data in ZAR) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 7.96 5.00
2020-12-31 7.59 5.00
2019-12-31 7.26 5.00
DB:LKG Past Annualized Dividends Data
Date (Data in ZAR) Dividend per share (annual) Avg. Yield (%)
2019-02-28 6.910 6.628
2018-03-02 6.910 5.999
2017-02-24 6.910 6.121
2016-02-26 6.910 5.744
2015-08-07 6.560 5.397
2015-02-26 6.340 4.115
2014-02-28 5.810 4.551
2014-02-27 5.810 4.817
2013-08-01 5.480 4.570
2013-02-28 5.280 4.384
2012-08-02 4.900 4.712
2012-03-01 4.800 5.409
2012-02-29 4.800 5.396
2011-02-24 4.550 5.944
2011-02-23 4.550 6.063
2010-02-26 4.550 6.188
2009-08-06 3.280 4.920
2009-07-15 3.280 5.163
2009-01-15 2.910 4.682
2008-12-31 2.910 4.883
2008-10-14 2.443 3.768

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Liberty Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Liberty Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Liberty Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Liberty Holdings has a total score of 6/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

LKG Management

 What is the CEO of Liberty Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Munro
COMPENSATION ZAR110,249,110
AGE 48
TENURE AS CEO 2.2 years
CEO Bio

Mr. David Charles Munro, BCom PDGA (UCT), CA(SA), AMP, had been Chief Executive of Liberty at The Standard Bank of South Africa Limited since July 17, 2017. He serves as Chief Executive Officer at Liberty Group Limited since May 30, 2017. Mr. Munro has been Group Chief Executive of Liberty Holdings Limited since May 30, 2017. Mr. Munro served as the Chief Executive of CIB at The Standard Bank of South Africa Limited. Mr. Munro served as Chief Executive Officer of CIB, SBG and SBSA at Standard Bank Group Limited until May 30, 2017. He served as Chief Executive Officer of Corporate and Investment Banking at Standard Bank Group Limited. He served as the Chief Executive of Corporate and Investment Banking at Standard Bank Group Ltd. He served as a Global Head of Investment Banking at Standard Bank Group Ltd. from November 2009 to July 1, 2011. Previously, he served as the Chief Executive of Corporate and Investment Banking - SBSA of Standard Bank Group Ltd until November 20, 2009. He served as the Deputy Chief Executive of Corporate and Investment Banking SA of Standard Bank Group Ltd. He joined Standard Bank Group Ltd. in 1996. He has been an Executive Director at Liberty Holdings Limited since February 15, 2017. He had been Non-Executive Director of ICBC Standard Bank Plc since February 1, 2015 until July 20, 2017. He holds BCom from (PGDA) (Cape Town), CA (SA) and AMPC (Harvard).

CEO Compensation
  • Insufficient data for David to compare compensation growth.
  • David's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Liberty Holdings management team in years:

2.3
Average Tenure
45
Average Age
  • The tenure for the Liberty Holdings management team is about average.
Management Team

David Munro

TITLE
Group CEO & Executive Director
COMPENSATION
ZAR110M
AGE
48
TENURE
2.2 yrs

Yuresh Maharaj

TITLE
Group Financial Director & Director
AGE
41
TENURE
1.4 yrs

Sharon Steyn

TITLE
Head of Investor Relations

Nerina Bodasing

TITLE
Divisional Director Group Communications
AGE
44

Pumeza Bam

TITLE
Group HR executive
TENURE
2.3 yrs

Giles Heeger

TITLE
Executive of Asset Management
AGE
46
TENURE
2.3 yrs

Jeff Hubbard

TITLE
Executive of Group Arrangements

Johan Minnie

TITLE
Group Executive of Sales
TENURE
3 yrs

Berlina Moroole

TITLE
Chief Risk Officer
TENURE
2.3 yrs

Benjamin Marais

TITLE
Chief Information Officer
Board of Directors Tenure

Average tenure and age of the Liberty Holdings board of directors in years:

6.6
Average Tenure
62
Average Age
  • The tenure for the Liberty Holdings board of directors is about average.
Board of Directors

Jacko Maree

TITLE
Non-Executive Chairman
COMPENSATION
ZAR4M
AGE
64
TENURE
4.5 yrs

David Munro

TITLE
Group CEO & Executive Director
COMPENSATION
ZAR110M
AGE
48
TENURE
2.4 yrs

Yuresh Maharaj

TITLE
Group Financial Director & Director
AGE
41
TENURE
1.4 yrs

Angus William Band

TITLE
Lead Independent Director
COMPENSATION
ZAR2M
AGE
67
TENURE
10.7 yrs

Sibusiso Sibisi

TITLE
Independent Non-Executive Director
COMPENSATION
ZAR841K
AGE
63
TENURE
10.7 yrs

Jim Sutcliffe

TITLE
Independent Non-Executive Director
COMPENSATION
ZAR3M
AGE
62
TENURE
9.8 yrs

Yunus G. Suleman

TITLE
Independent Non-Executive Director
COMPENSATION
ZAR1M
AGE
62
TENURE
3.9 yrs

Tony Cunningham

TITLE
Independent Non-Executive Director
COMPENSATION
ZAR2M
AGE
63
TENURE
10.4 yrs

Monhla Hlahla

TITLE
Independent Non-Executive Director
COMPENSATION
ZAR599K
AGE
56
TENURE
6.9 yrs

Sim Tshabalala

TITLE
Non-Executive Director
COMPENSATION
ZAR55M
AGE
52
TENURE
6.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Liberty Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Liberty Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

LKG News

Simply Wall St News

LKG Company Info

Description

Liberty Holdings Limited, a financial services company, engages in insurance business in Africa. The company offers accident, critical illness, disability, income and life protection, medical, and policy protection insurance products, as well as funeral benefits and plans; and annuities, alternate solutions, balanced portfolios, umbrella solutions, investment products, and fund administration services, and consulting services. It serves individuals, families, and businesses. The company was founded in 1957 and is headquartered in Johannesburg, South Africa. Liberty Holdings Limited is a subsidiary of Standard Bank Group Limited.

Details
Name: Liberty Holdings Limited
LKG
Exchange: DB
Founded: 1957
ZAR1,956,035,656
268,418,000
Website: http://www.libertyholdings.co.za
Address: Liberty Holdings Limited
Liberty Life Centre,
1 Ameshoff Street,
Johannesburg,
Gauteng, 2001,
South Africa
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
JSE LBH Ordinary Shares The Johannesburg Securities Exchange ZA ZAR 02. Jan 1992
DB LKG Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
6,096
Liberty Holdings employees.
Industry
Life and Health Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/24 00:03
End of day share price update: 2019/07/22 00:00
Last estimates confirmation: 2019/07/18
Last earnings filing: 2019/02/28
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.